Chennai-based Mad Street Den Systems Pvt. Ltd. a computer vision technology and artificial intelligence (AI) startup has raised $1.5 million (about Rs 9 crore) in seed funding round.
The round was led by Exfinity Venture Partners LLP and GrowX Ventures, while the new funding will be used to technological improvement and development.
“We’re taking a bet on MSD bringing AI from the hallowed domains of the few and making it accessible to the world-at-large, which could have a dramatic impact on businesses and lives everywhere,” Sheetal Bahl, CEO, GrowX, said.
Ashwini Asokan and Anand Chandrasekaran (husband-wife) started the Mad Street Den in 2014, and through its cloud-based platform Mad Street Den offers artificial intelligence and computer vision to businesses around the globe.
Ashwini is a graduate in Visual Communication from Madras University and post-graduation in Interaction Design from Carnegie Mellon University.
She had worked as a portfolio manager at Intel and prior to that had worked at Imprint Color Graphics. One of the flagship product of Mad Street Den is visual search for e-commerce portals dedicated to fashion. This feature enables users to search for any dress on any online shopping portal by taking the picture of a dress from other shopping website.